The Sui (SUI) price has experienced a major bullish breakout in tandem with a pump in the broader crypto market on positive trade war headlines, breaking a key resistance level in the process, and opening up the possibility of further rapid upside in the coming days and weeks.
SUI was last trading around $2.70, up around 20% on Tuesday after US President Donald Trump appeared to signal taking an easier approach to the trade war with China.
That was the trigger for a major risk asset rally, as fears of tariff-induced economic weakness subsided.
As traders piled back into risk assets, the Sui price snapped a downtrend going all the way back to the start of 2025. It also mustered its first major breakouts above its 21 and 50 DMAs since early 2025.
Technically speaking, the door has now been opened to a substantial rally in the near term. Bulls will be focused on a possible near-term retest of the 200DMA just above $3.0.
A break above here could open the door to a rapid surge all the way back to the record highs printed in early 2025 above $5.0.
So Sui could feasibly be looking at 2x gains in the near future.
Sui Price Might 2x, But Altcoin Season Isn’t Back Yet
That said, traders would do well not to get overly enthusiastic about the start of a new “altcoin season”.
If Trump is backing off from the trade war, that’s a major relief for the market that paves the way for further near-term upside.
But macro risks remain elevated. Trade war uncertainty plus austerity by the US government remain major downside risks to the US economy, with recession risks still elevated.
And, given an elevated risk of sticky inflation thanks to tariffs, the Fed under Chairman Jerome Powell will be reluctant to “save the markets/economy” with aggressive easing should the economy roll over.
Evidence of an impending recession could yet trigger a reversal in sentiment. With the economy not yet “out of the woods”, traders should remain suspicious of the longevity of altcoin rallies.
Traders should remember that the real “rocket fuel” behind past altcoin seasons have been massive floods of liquidity from central banks.
Yes, global M2 is rising as central banks around the world ease.
But altcoins won’t really pop until the Fed follows, and massive Fed easing remains some way off.
There is a chance that the Sui price could retest record highs in the near future, but the chances of a meaningful breakout remain low, unless the US economy remains remarkably resilient to a slowdown and inflation.
Stack Sui
Macro conditions remain unfavorable for a renewed altcoin season. Savvy long-term investors will view this as an opportunity to continue stacking high-quality altcoins like Sui at discount prices.
And Sui is certainly an altcoin worth stacking. The blockchain’s rapid late-2024 ascent positions it as a frontrunner for the next altcoin market surge.
Boasting over 25 million active accounts and $1.36 billion in TVL by late 2024, Sui is already demonstrating robust on-chain adoption, much more than can be said for the vast majority of altcoins out there.
Projects like Cetus, a leading DEX with $105 million TVL, and NAVI Protocol, a lending platform surpassing $135 million TVL, underscore its thriving DeFi ecosystem.
Sui’s roadmap, leveraging the Move programming language and parallel transaction processing, ensures scalability and speed, rivaling Solana and Ethereum.
And Innovations like the SuiPlay0X1 gaming console and USDC integration further cement Sui’s potential to lead blockchain innovation.
Macro uncertainties are likely to remain high in 2025, capping Sui price upside. But crypto traders are likely to look back on Trump’s second term as a “glory age” for crypto.
The Trump administration is ardently pro-crypto and seeks to foster growth in the industry.
Over the coming years, it seems highly unlikely that leading coins like Sui won’t perform very well.
Traders shouldn’t rule out a potential Sui price of $10 or even $20 per token by the end of Trump’s term.
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